Academic literature on the topic 'History of Royal Dutch Shell'

Mestrado em Finanças<br>A Royal Dutch Shell, plc (Shell) é a maior empresa integrada no setor de Oil & Gas, em termos de ativos. Opera globalmente, no que se refere à geografia onde tem interesses, e integra no seu modelo de negócio toda a cadeia de valor. Tenta diversificar o seu negócio com uma, cada vez mais importante, presença na produção de energia a partir de fontes renováveis e no retalho de energia elétrica. A Shell tem uma recomendação de REDUZIR com um preço alvo para o final do ano de 2021 de $33.58. Um potencial de subida de 13.2% ou uma rentabilidade anualizada de 9.9%, com elevado risco. A divergência do preço atual com a nossa recomendação deve-se i) a perspetivas demasiado otimistas quanto à capacidade de conter uma segunda vaga de COVID-19 a nível global; ii) à quebra no consumo por via do confinamento derivado da pandemia da COVID-19; iii) a um excesso de petróleo no mercado; iv) ao ambiente de recessão económica a nível mundial; v) alguma alavancagem financeira comparativamente aos principais competidores diretos; vi) necessidade de manter elevados custos na otimização do portfólio de ativos por via de aquisições dispendiosas e de alienação de ativos até há pouco tempo vistos como estratégicos; vii) baixas perspetivas de aumento sustentável do preço do petróleo. A gestão pretende aumentar a sua presença no atual contexto de transição energética para fontes ambientalmente mais sustentáveis.<br>Royal Dutch Shell, plc (Shell, or RDS) is the largest integrated company in the Oil and Gas sector, in terms of assets. Operates globally, with regard to the geography in which it has interests, and integrates the entire value chain into its business model. It tries to diversify its businesses with an increasingly important presence in the production of energy from renewable sources and in electricity retail. Shell (NYSE, Class A:US) has a REDUCE recommendation with a target price for 20YE of $ 33.58, a potential annualized return of 9.9%, with high risk. The divergence of the current price with our recommendation is due to: i) too optimistic prospects about the capacity to contain a second wave of COVID-19 globally; ii) the drop in consumption due to the confinement resulting from the COVID-19 pandemic; iii) supply glut of oil on the market; iv) the global economic recession environment; v) some financial leverage compared to the main direct competitors; vi) the need for high levels of costs in optimizing the asset portfolio through expensive acquisitions and the sale of assets that, until recently, were seen as strategic; vii) low prospects of a sustainable rise in oil price. Management intends to increase its presence in the current context of energy transition to more environmentally sustainable sources.<br>info:eu-repo/semantics/publishedVersion

El fenomen de les corporacions multinacionals (MNCs) que assumeixen activitats tradicionals de govern dins de la seva agenda de Responsabilitat Social Corporativa (RSC) està rebent una creixent atenció degut als desafiaments que aquest fet suposa tant per la legitimitat d’aquestes mateixes corporacions com per al sistema democràtic en general. Darrerament “political CSR” ha esdevingut el nou marc teòric dins de la literatura sobre ètica empresarial i sobre societat i negocis. És en aquest marc des d’on es discuteixen aquest paper polític de les empreses i les responsabilitats que d’ell se’n deriven. Els estudis sobre “political CSR” assumeixen que les MNCs haurien d’implicar-se (com de fet ja ho fan) en activitats de regulació social i política (Scherer & Palazzo, 2007), així com operar també com a nou proveïdors de serveis públics (Scherer & Palazzo, 2011; Scherer, Palazzo, & Matten, 2009). Tanmateix, i malgrat les creixents demandes normatives i les corresponents preocupacions sobre el paper de les MNCs minant el bé comú, a penes s’ha fet recerca ni sobre el grau en el què aquestes firmes poden i realment s’ajusten a aquestes normes ni sobre la forma en què tot el fenòmen afecta als principals agents implicats. Aquesta tesi doctoral pren com a punt de partida aquestos reptes per realitzar una investigació empírica i sistemàtica de l’assumpte. La companyia Royal Ducth Shell és particularment apropiada tant per les seves característiques pròpies distintives, com pel complex context en el què opera i l’accès a dades disponible. La tesis planteja una nova perspectiva sobre el paper polític i de les responsabilitats de les MNCs que vindria a ampliar les actuals aportacions teòriques sobre l’abast d’aquestes responsabilitats i sobre les condicions de legitimitat de les corporacions. A més, conceptualitza un nou marc teòric de les respostes de les MNCs a les demandes de la “political CSR”, de més complexe i dinàmic que l’existent. En particular, la tesi detalla les repostes de l’empresa, que romanien sense identificar, i pren en consideració tant la seva actuació en interés propi com les relacions de poder; la qual cosa desafia les assumpcions predominantment possitivistes i el biaix excessivament optimista d’estudis exemplars de “political CSR”. D’aquesta forma la tesis il·lumina la part més obscura no només d’algunes de les (males) pràctiques de les companyies, sinó també de les debilitats del sistema més ampli negocis-societat.<br>El fenómeno de las corporaciones multinacionales (MNCs) que asumen actividades tradicionales de gobierno dentro de su agenda de Responsabilidad Social Corporativa (RSC) está recibiendo una creciente atención debido a los desafíos que ello supone tanto para la legitimidad de estas mismas corporaciones como para el sistema democrático en general. En los últimos tiempos “political CSR” ha devenido el nuevo marco teórico, dentro de la literatura sobre ética empresarial y sobre sociedad y negocios, donde se discute ese papel político y las responsabilidades que de él se derivan. Los estudios sobre “political CSR” asumen que las MNCs deberían implicarse (como de hecho ya hacen) en actividades de regulación social y política (Scherer & Palazzo, 2007), al tiempo que operar también como nuevos proveedores de servicios públicos (Scherer & Palazzo, 2011; Scherer, Palazzo, & Matten, 2009). Sin embargo, a pesar de estas crecientes demandas normativas y las correspondientes preocupaciones sobre el papel de las MNCs minando el bien común, apenas se ha investigado ni el grado en el que estas compañías pueden y realmente se ajustan a estas normas ni la forma en que todo el fenómeno afecta a los principales agentes implicados. Esta tesis doctoral toma como punto de partida estos retos para realizar una investigación empírica y sistemática del asunto. La compañía Royal Dutch Shell es particularmente apropiada para este estudio tanto por sus propias características distintivas, como por el complejo contexto en el que opera y el acceso a datos del que se dispone. Esta tesis doctoral plantea una nueva perspectiva sobre el papel político y de las responsabilidades de las MNCs que vendría a ampliar las actuales aportaciones teóricas sobre el alcance de esas responsabilidades y las condiciones de legitimidad de las corporaciones. Además, conceptualiza un marco teórico de las respuestas de las MNCs a las demandas de la “political CSR”, de mayor complejidad y dinamismo que el existente. En particular, la tesis detalla las respuestas de la empresa, que permanecían sin identificar, y toma en consideración tanto su activa actuación en interés propio como las relaciones de poder; lo cual desafía las asunciones predominantemente positivistas y el sesgo excesivamente optimista de estudios ejemplares de “political CSR”. De esta forma la tesis ilumina la parte más oscura no solo de algunas de las (malas) prácticas de las compañías, sino también de las debilidades del más amplio sistema negocios- sociedad.<br>The phenomenon of multinational corporations (MNCs) taking on traditional government activities within their corporate social responsibility (CSR) agenda is receiving increasing attention due to ensuing legitimacy challenges for the corporation and democracy at large. Recently, ‘political CSR’ has become the new normative frame for theorizing on these political role and responsibilities within the business ethics and society and business literature. Political CSR scholarship assumes that MNCs should, and already do, engage in traditional government activities of political and social regulation (Scherer & Palazzo, 2007) and operate as new providers of public goods (Scherer & Palazzo, 2011; Scherer, Palazzo, & Matten, 2009). However, despite these increasing normative demands and concomitant concerns over MNCs undermining the public good, the extent to which companies can and do conform to these normative demands and how this impacts the main affected stakeholders remains theoretically underdeveloped and empirically under-explored. This PhD thesis embraces the legitimacy challenges of MNCs’ political engagement and the lack of attention to the impact of corporate responses on affected stakeholders as a starting point for a systematic in-depth empirical inquiry. The company Royal Dutch Shell is particularly suitable due to its distinctive company characteristics, complex operating environment and access to data. This PhD thesis provides a new perspective on the political role and responsibilities of MNCs. Notably, the thesis 2 provides an extension of the political CSR framework with regard to the scope of political responsibilities and the conditions corporate legitimacy. The emergent model of research study 3 reveals a rather more complex and dynamic picture of MNCs’ responses to political CSR demands than that presented in the extant literature. It identifies previously unidentified responses to normative political CSR demands and takes into account MNCs’ self-interested active agency and power relationships, which challenge the predominantly positivist assumptions and the ‘bright side’ bias of exemplary cases of political CSR. In this way, the thesis reveals crucial insights into the ‘dark side’ not only of the company’s (mal)practices, but also regarding the weaknesses of the broader system of business and society.

The thesis contributes to the perspective on the role of stakeholder engagement in negotiating corporate social responsibility (CSR) policies and practices in developing country context. It critically examines the role of societal pressures as drivers of Shell's CSR agenda, and explores the forms of relationships existing between Shell and its stakeholders in Nigeria, as the company implements its CSR programme, both in the light of its strategic business objectives and of its social responsibilities and environmental liabilities. Furthermore, it examines the role of government in the oil MNCs' CSR agenda, and explores the conditions under which the government, in its dual role as business partner and as state authority, promotes CSR policies and practices in Nigeria. Shell's CSR policies and practices in Nigeria were examined under the theoretical lenses of the resource-based view perspective extended to notions of legitimacy and the licence to operate. Additionally, the stakeholder engagement perspective was applied as the theoretical framework for examining Shell's stakeholder engagement, and the role of the company's stakeholders in negotiating its current CSR policies and practices in Nigeria. Data collection was undertaken during field research in Nigeria. The evidence presented is drawn from individual interviews with corporate executives at Shell Nigeria, Shell International, several stakeholders in the Nigerian oil sector, and from an online survey conducted in 2005 on Shell Nigeria's stakeholders. Both quantitative and qualitative methods were used throughout the analysis presented in the thesis. The research findings suggest that the relationship between the firm's pursuit of the social licence to operate through CSR initiatives and stakeholder engagement is more complex than assumed. It adds to the understanding of the dynamics of a MNC's stakeholder engagement in the local context. It highlights the various interdependencies that develop between stakeholder groups and the company at the institutional level as well as within the context of the organisation, as the corporation develops and implements its CSR agenda. As such, the research invites an examination not just of the differences and barriers existing between the firm and its stakeholders, home and host country practices, but also of the ways in which they are embedded in each other, and how this affects their collaboration.

Abstract. This thesis seeks to find results and clarify the energy transition in an energy sector through the central precedents and processes in established firms. The outcomes of these results are estimated and also considered how the energy transition process is managed in the aspect of incumbent multinational corporations. The research of major transition processes is significant since external factors and other parties affect on the internal operations of organizations, decision-making processes and in the contrary. Management level decision-making also needs to take multi-dimensionally various factors into account in transitions since the transition processes are extremely complex and take time. There are considered two different transitional approaches: multi-level perspective theory and corporate social responsibility in transition processes in the thesis. Moreover, document analysis is utilized as a research method in this study. The conclusion can be drawn from the research that natural gas, new innovations and technologies, such as the CCS technology, are the key operations in the ongoing transition in an energy sector. Renewable energy sources are also utilized and developed, yet their share is still too small in the global energy mix. By analyzing the corporate management decision-making in an energy sector, it can lead to the conclusions that the transition towards a low-carbon future is already in arrears, and no certain party is solely resposnbile for it. However, with good strategic operations, established organizations are able to contribute to the energy transition process. Organizations should genuinely be responsible for their actions and also emphasize transparency, not just create strategies for publicity.

The aim of this research is to develop an analytical framework, drawing on appropriate ethical theories that will facilitate exploration of the perceptions, beliefs, and feelings that corporate managers have toward corporate environmental responsibility (CER). It will enable the identification of the relationship, if any, between espoused corporate environmental policy of organisations, and the ethical values of the managers they employ. Environmental crisis is a complex problem raising issues across many disciplines. Ethics play a vital role in addressing the problem, acting as a filter to determine the 'consequences' of organisational actions and help to ensure that these actions do not compromise nature's condition. The framework developed has two dimensions; the first across anthropocentric and eco-centric ethics; the second ranging from moral minimum to moral maximum responsibility and is used as a tool for analysing the individual managers' positions toward CER and provides a mean for mapping Shell's espoused approach to CER. The research draws from a single in-depth case study, the analysis of Petrochemical giant Shell, so as to gain a comprehensive understanding of an organisation that is a major player in the CER debate. In-depth interviews are used to secure rich data. The study concludes that while the personal values of Shell's managers were congruent with Shell's CER policy, sharing the same anthropocentric viewpoint, there is a difference in terms of the extent of responsibility. For Shell, economic performance is more essential, while the majority of the participants emphasised that the primary goal of the company should be environmental preservation. Due to the hierarchal governance structure of the organisation, the strength of the individual managers' opinions does not seem to be a significant factor in driving policy and surpassing the economic imperative of the company.

In light of never before seen environmental degradation and social injustice, the urgency to move forward on the path of sustainable development has skyrocketed. As Millennials, we see it in our duty to raise awareness about the dangers of our lifestyles and contribute with a solution to measuring sustainability. Corporations alone or along with other market players have been quoted many times as the ones ‘who will save the world’. Thus, the theoretical framework places an emphasis on corporate sustainability, in addition to sustainable development and TBL. As supporters of the view that corporations will play a defining role, the thesis is an investigation into the sustainability of one of the most pollutant corporations, Royal Dutch Shell. As such, the formulated four-dimensional model (Green Model) stands as an addition to the plethora of frameworks in reporting and describing corporate sustainability. In consequence, the research question is aimed at describing the corporate sustainability of Shell, meaning actions, processes and policies as the focus. As such, the emphasis is on the in-depth description of its sustainable or unsustainable characteristics. The path of sustainability is revealed through an analysis that includes 39 indicators. For this, secondary data was collected from Shell itself and other unrelated sources in an attempt to provide an unbiased perspective. The Green Model also contains a rating scale going from favorable and neutral to unfavorable for a visual representation of findings in all indicators. The conclusion is based on the Green Model findings in the case study, plus the Dunphy phase model of sustainability, as an additional tool to answer the research question. Thus, the conclusion reveals the good and the bad deeds, which confirm Shell’s dual nature of actions in terms of sustainability along with an indication of the corporation’s future road. Regarding the case study, Shell was found to hold an unfavorable position on the path of sustainability based on the Green Model. Although this is not surprising, the focus is on considering the positive aspects along with the negative ones. This framework indicated the four footings are not balanced. First, the economic dimension is favored. Second, the environmental dimension versus the social one looks at a disadvantage for the ecosystem, and the fourth dimension, sustainable thinking is deemed unfavorable because the future energy plan is unsustainable. In addition, Shell is seen positioned in between the phase of efficiency and that of strategic proactivity, based on the Dunphy phase model. Thus, these findings point to what Shell can do next in order to move forward on the path of sustainability. But, also they bring to surface the process of alignment of such a corporation. The project is concluded with a discussion of the duality of Shell, recommendations, as well as a description of the Ecotopia, as the ultimate goal of sustainable development.

The title of this thesis is CSR and its Communication in Multinational Companies. It is a comparative study of Tata Steel and Royal Dutch Shell in India and the UK that explores the dimensions of CSR and its communication in these different contexts. It seeks to contribute to the examination of CSR and its communication and the relationship between the two. It takes an exploratory approach to proving unique empirical evidence of company approaches and is designed to acknowledge the relevance of the context-specific on CSR as a social construct (Burr 2003), and the ever-changing, nature of its communication. This thesis investigates how company’s define and decide on their approach to CSR and whether, in today’s business environment, a company’s CSR-related activities can be extrapolated from their communication. It also explores how CSR and its communication has evolved to accommodate a changing business environment; the benefits of designing a CSR approach that is synonymous with its communication; and the implications of separating CSR from its communication. In order to do this qualitative research methods are used, combined with discourse analysis to obtain rich insights into the perceptions of the individuals involved in the CSR communication process and company stakeholders. A total of in-depth 25 interviews took place over more than 25 hours, split between India and the UK. This included interviews with 10 managers and 15 stakeholders. Coombs and Holladay’s (2012) motivation matrix is used as a basis for the analysis of the results. The main academic contributions of the research reveal a move away from the use of the term CSR towards sustainability; the specific reference to ‘involvement’ as a fundamental element of the CSR definition; the use of psychotherapeutic language as a motivation for CSR; and the imbedded nature of communication within the CSR concept, making the two concept inextricably linked. The findings reveal how the concept of CSR and its communication has evolved and is being developed by companies as a means of inspiring and giving meaning to stakeholders. They indicate the need for research to keep abreast of this changing environment as a means of informing both academics and practitioners in the fields of both CSR and communications.